On the chart Ethereum is formed of a rare bullish pattern
Source:
Despite strong pressure from the bears after the recent drain , still managed to recover and approach the line 270 dollars. According to several analysts from Twitter, the cryptocurrency might soon form a bullish pattern on chart, which will end with the next wave of growth of the asset.
Tonight Ethereum is trading at 269 dollars. For the past day, the coin's value almost did not change. Note that the capitalization of Ethereum is of 28.64 billion.
theit's Time to open long?
In the next few weeks the price movement of the largest Aldona will depend on the growth of Bitcoin. However, while the asset is still experiencing some difficulties with the break of the nearest resistance level. According to the trader under the name The Cryptomist, Ethereum may drop to $ 230 in the near future.
Schedule very similar to price movement of Bitcoin. We fell out of the previous rising wedge, and its bottom line, which previously was a support turned into resistance. I'm still on the bearish side in the short term and expect a reduction of up to $ 230.
Similarly to Btc, we currently are being rejected from previous rising wedge as support is now resistance
I am still short term bearish on this for now, and think we could still see $230 range.Trade safe loveys x
— The Cryptomist (@TheCryptomist)
Another popular cryptanalyst Josh Olszewicz noticed a bullish pattern on the chart of Ethereum. According to him, such occurred in the auction is extremely rare and can lead to a significant increase in the price of the asset.
Crossing the 100 EMA and 100 SMA on the scale 1-daily chart has happened only four times in the history of trading ETH. In the next few days there will be another crossover.
1D
100EMA/100SMA crosses have only occurred 4 times in 's history, with a 5th cross happening in the next few days
— Josh Olszewicz (@CarpeNoctom)
By the Way, the project gradually comes to the most important update in my life. Previously, we described in detail how it will be .
Even more interesting read . For actual exchange rates of cryptocurrencies come in .
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